American Tower Corporation $AMT Holdings Lifted by Hsbc Holdings PLC

Key Points

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Hsbc Holdings PLC grew its position in American Tower Corporation (NYSE:AMT - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,559,404 shares of the real estate investment trust's stock after purchasing an additional 78,178 shares during the period. Hsbc Holdings PLC owned approximately 0.33% of American Tower worth $338,924,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Elmwood Wealth Management Inc. boosted its holdings in shares of American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock valued at $454,000 after acquiring an additional 50 shares in the last quarter. 4J Wealth Management LLC boosted its holdings in shares of American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock valued at $283,000 after acquiring an additional 50 shares in the last quarter. TCTC Holdings LLC boosted its holdings in shares of American Tower by 15.8% in the first quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock valued at $81,000 after acquiring an additional 51 shares in the last quarter. Coyle Financial Counsel LLC boosted its holdings in shares of American Tower by 2.4% in the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock valued at $487,000 after acquiring an additional 53 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. boosted its holdings in shares of American Tower by 2.9% in the first quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock valued at $416,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Stock Down 1.5%

Shares of NYSE:AMT opened at $202.95 on Tuesday. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The company has a 50 day moving average of $217.24 and a 200-day moving average of $212.17. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $95.03 billion, a price-to-earnings ratio of 73.80, a P/E/G ratio of 1.17 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The firm had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.79 earnings per share. On average, sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMT. JMP Securities raised their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. raised their target price on shares of American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. Barclays restated an "overweight" rating and set a $250.00 target price (up from $246.00) on shares of American Tower in a report on Monday. Finally, Bank of America began coverage on shares of American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 target price for the company. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $244.73.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company's stock.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.

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